Trane Technologies plc $TT Holdings Cut by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd reduced its stake in Trane Technologies plc (NYSE:TT) by 92.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,934 shares of the company’s stock after selling 24,447 shares during the period. Temasek Holdings Private Ltd’s holdings in Trane Technologies were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TT. Norges Bank bought a new position in Trane Technologies during the 2nd quarter worth $1,356,065,000. Nuveen LLC acquired a new position in shares of Trane Technologies during the first quarter valued at $877,468,000. Wellington Management Group LLP grew its position in shares of Trane Technologies by 245.1% during the first quarter. Wellington Management Group LLP now owns 2,144,405 shares of the company’s stock worth $722,493,000 after acquiring an additional 1,522,933 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Trane Technologies by 89.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,455,734 shares of the company’s stock worth $1,066,845,000 after acquiring an additional 1,157,405 shares during the period. Finally, ABN AMRO Bank N.V. acquired a new position in Trane Technologies during the 2nd quarter valued at about $291,206,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. This trade represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Shares of TT opened at $401.33 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. The firm’s 50 day moving average is $420.96 and its 200-day moving average is $425.26. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The stock has a market capitalization of $88.99 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.31 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies’s payout ratio is presently 28.92%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TT shares. Wells Fargo & Company increased their price target on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Barclays upped their price target on shares of Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Citigroup boosted their target price on Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $470.07.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.